UK hits double-digit inflation for the first time in 40 years

2022.08.18 02:14

UK hits double-digit inflation for the first time in 40 years

The inflation rate in the United Kingdom reached 10.1%, according to the Office for National Statistics (ONS). The Consumer Prices Index (CPI) rose by 10.1% in the 12 months to July 2022. It’s a significant leap from 9.4% in June.

The ONS stated that housing and household services, including fuel and transport (fuel again), food and beverages are to blame for the surge in prices.

Inflation figures are soaring in the U.K. Source: ONS

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